Friday Five – 16 August – 5 Questions in 5 Minutes
Welcome to this week’s Friday Five – 5 Questions in 5 Minutes Every Friday
What’s this all about?
It’s a bit of Friday Fun where we provide you with 5 questions relevant to a mix of CII exams. The challenge is for you to answer them in 5 minutes. Answers at the bottom of the page.
IMPORTANT! These questions relate to examinable tax year 2018/19, examinable by the CII until 31 August 2019. They do not relate to tax year 2019/20 which is only examinable by the CII from 1 September 2019.
- The Prudential Regulation Authority (PRA) is part of which of the following?
- The Bank of England
- The Financial Conduct Authority
- The Association of British Insurers
- The Treasury
- What are the main sectors of the commercial property market? Tick all that apply.
- Office buildings
- Multi-tenanted buildings
- Out of town units
- Two clients hold the following investments:
Assuming no withdrawals have been made from either investment, you can advise Mabel and Rachel that:
Name Bond Type Purchase Price Current Value Term Held Mabel Onshore £50,000 £60,000 5 years, 3 months Rachel Offshore £70,000 £60,000 4 years
- On encashment, both Mabel and Rachel will be subject to capital gains tax.
- Mabel can withdraw £15,000 without triggering a chargeable event.
- Rachel can withdraw £15,000 without triggering a chargeable event.
- Only Mabel can benefit from top-slicing.
- Being “fit and proper” to undertake the role is a test that could be used by the Pension Regulator in assessing the appropriateness of the:
- Scheme Administrator
- Scheme Trustee
- Scheme Actuary
- Susan has a mortgage payment protection insurance policy. If she makes a claim on becoming unemployed, the very maximum amount of time for which benefits will be paid is usually:
- 9 months
- 12 months
- 18 months
- 24 months
- A – See R01 Study Text, Chp 5:1
Grab our taster mock exam paper for CII R01. Click here to download.
- AE – See R02 Study Text, Chp 1:2
Grab our taster mock exam paper for CII R02. Click here to download.
- B – See R03 Study Text, Chp 10
Grab our taster mock exam paper for CII R03. Click here to download.
- B – See R04 Study Text, Chp 3
Grab our taster mock exam paper for CII R04. Click here to download.
- D – See R05 Study Text, Chp 9
Grab our taster mock exam paper for CII R05. Click here to download.
How did you find this week’s questions? Did you complete them in 5 minutes? Did you get them all correct? Do you disagree with any?
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